Mainframe's pivot to DeFi remains positive
Assets covered: Mainframe MFT
Metrics used: MVRV, Exchange Inflow, Daily Active Deposits, Network Profit/Loss, Age Consumed, Holders Distribution, Amount held by top non exchange wallets
Summary: Mainframe showing healthy signs of whales accumulation
Originally billed as a decentralized communication platform promising a censorship and surveillance-resistant communication protocol, the Mainframe project pivoted to decentralized lending platform earlier this summer. This move has boosted the price as we covered in July.
Mainframe has caught our attention being one of the most oversold tokens in terms of MVRV. Let me show it on charts:
An inflow of MFT tokens to exchanges shows a very clear top near the spike, meaning Mainframe has a very smart investors:
Now we're back to normal exchange activity. Every time we saw these spikes there was a local top, immediate sell
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